Advisors Earn the Most in this Pacific Northwest State
Oregon took the top spot in both income and employment for financial advisors, shows new findings from financial technology company SmartAsset.
SmartAsset analyzed research from the Bureau of Labor Statistics (BLS) to establish which states led in advisor growth between 2024 and 2025. It found that financial advisors in Oregon had sharp increases in income and employment, with median earnings growing 53% while estimated employment saw a 45% rise. These increases earned Oregon the number one spot for employment growth.
Vermont came in second place with a 35% change in income, followed by New Jersey at 28% and Nebraska at 26%.
Of the 40 states with available data, all but 11 had increases in median income for advisors. While New York had the highest median income at $166,400, it had a one-year change of -0.9%. New Jersey had the second-highest median income at $166,400, followed by California at $130,330.
On the contrary, Idaho saw the sharpest decline out of all states. While SmartAsset’s 2025 study saw Idaho lead in median income growth, at 44% from $94,980 in 2023 to $136,440 in 2024, the Gem state experienced strong decreses in median income in 2025, with declines of nearly 31%. Other states with decreases in median income included Indiana, Kentucky, Michigan, North Dakota, Oklahoma, South Carolina, and Tennessee.
Data for Alabama, Colorado, Connecticut, Louisiana, Maine, Mississippi, Nevada, North Carolina, and Wyoming were not included.
Other states with leading numbers in median income and estimated employment included:
Washington
• Median income (2025): $114,040
• One-year change in median income: 1.8%
• Estimated employment (2025): 5,790
South Dakota
• Median income (2025): $128,720
• One-year change in median income: 4.3%
• Estimated employment (2025): 620
Massachusetts
• Median income (2025): $125,670
• One-year change in median income: 24.0%
• Estimated employment (2025): N/A
Delaware
• Median income (2025): $125,050
• One-year change in median income: -2.4%
• Estimated employment (2025): N/A
Oregon
• Median income (2025): $122,830
• One-year change in median income: 53.2%
• Estimated employment (2025): 3,070
Illinois
• Median income (2025): $120,130
• One-year change in median income: 15.2%
• Estimated employment (2025): 9,760
Wisconsin
• Median income (2025): $119,430
• One-year change in median income: 3.2%
• Estimated employment (2025): 5,200
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news.